<p>在 10 月 10 日星期五，<strong>唐纳德·特朗普</strong> 宣布对中国商品征收 100% 的关税后，市场受到震动，随后总统迅速缓和了语气，保证贸易关系 “会很好”。</p>
<p>这一甜头受到市场的欢迎，帮助华尔街在本周初反弹。</p>
<h3>鲍威尔的鸽派言论为复苏增添动力</h3>
<p>复苏还受到强于预期的银行盈利和美联储主席 <strong>杰罗姆·鲍威尔</strong> 的鸽派言论的推动。</p>
<p>鲍威尔警告就业面临日益增加的风险，这进一步表明中央银行可能会继续降低借贷成本，增强了本月晚些时候降息的预期。</p>
<h3>大型银行表现亮眼，但小型贷款机构出现裂痕</h3>
<p>包括 <strong>摩根大通</strong>（NYSE:JPM）、<strong>高盛</strong>（NYSE:GS）、<strong>美国银行</strong>（NYSE:BAC）、<strong>花旗集团</strong>（NYSE:C）、<strong>富国银行</strong>（NYSE:WFC）和 <strong>摩根士丹利</strong>（NYSE:MS）在内的主要美国银行均超出分析师预期，突显了该国金融巨头的韧性。</p>
<p>然而，小型地区贷款机构的裂痕开始显现。</p>
<h3>信贷担忧在 Zions 和 Western Alliance 中重新浮现</h3>
<p>周四，市场被提醒了这种脆弱性，当时一波新的波动袭击了该行业，几家地区银行警告信贷问题。<strong>Zions Bancorporation</strong>（NASDAQ:ZION）披露将在第三季度记录 5000 万美元的减记，涉及其加州银行信托部门持有的两笔问题商业和工业贷款。</p>
<p>与此同时，<strong>Western Alliance Bancorp</strong>（NYSE:WAL）透露已对一名借款人提起诉讼，指控其欺诈。周四，这两家银行的股价均暴跌了两位数，而更广泛的地区银行业遭遇自 4 月以来最严重的单日损失。</p>
<p>在这种不安中，摩根大通首席执行官 <strong>杰米·戴蒙</strong> 在财报电话会议上警告信贷风险上升，提到最近的破产事件，包括次级汽车贷款机构 Tricolor Holdings 和汽车零部件制造商 First Brands。“当你看到一只蟑螂时，可能还有更多，” 戴蒙说。</p>
<h3>黄金飙升至历史新高</h3>
<p>黄金继续其不可阻挡的上涨，达到每盎司 4350 美元的新纪录——自年初以来上涨超过 60%，标志着自 1979 年以来的最佳表现。</p>
<p>黄金矿业股票飙升三位数，分析师表示这一涨势可能仍处于早期阶段。</p>
<h3>底特律汽车股在财报前找到喘息机会</h3>
<p>对于密歇根州的股票来说，本周以更光明的前景结束。<strong>通用汽车</strong>（NYSE:GM）、<strong>福特汽车</strong>（NYSE:F）和 <strong>斯特兰蒂斯</strong>（NYSE:STLA）的股价从上周的损失中反弹，分别上涨约 6%、4.3% 和 6.2%，因改善的贸易和利率情绪提振了汽车行业。</p>
<p>下周，通用汽车和福特将分别在 10 月 21 日和 23 日公布季度财报。</p>
<ul>
<li><strong>即将到来的罕见假日消费热潮——但仅限于富人</strong></li>
</ul>
<p><em>图像由人工智能通过 Midjourney 生成。</em></p>

高盛

摩根大通

<p>美联储主席杰罗姆·鲍威尔的鸽派言论和强劲的银行业盈利推动了市场复苏，市场对降息的预期增强。摩根大通和高盛等主要银行报告了超出预期的业绩，但小型贷款机构如 Zions 和 Western Alliance 则面临信用问题，引发担忧。黄金价格飙升至创纪录高位，而底特律汽车股在财报发布前反弹。总体来看，市场在银行业混合信号和上升的信用风险中经历波动</p>

<p>After the shock of Friday, Oct. 10, when <strong>Donald Trump</strong> announced 100% tariffs on Chinese products, the president quickly softened his tone, assuring that trade relations &#34;will be fine.&#34;</p>
<div class="lb-trans"><p>在 10 月 10 日星期五，<strong>唐纳德·特朗普</strong> 宣布对中国商品征收 100% 的关税后，市场受到震动，随后总统迅速缓和了语气，保证贸易关系 “会很好”。</p>
</div><p>That sweetener was well received by markets, helping Wall Street rebound early in the week.</p>
<div class="lb-trans"><p>这一甜头受到市场的欢迎，帮助华尔街在本周初反弹。</p>
</div><h3>Powell's Dovish Tone Added Fuel To The Recovery</h3>
<div class="lb-trans"><h3>鲍威尔的鸽派言论为复苏增添动力</h3>
</div><p>The recovery was also fueled by stronger-than-expected bank earnings and by dovish remarks from Federal Reserve Chair <strong>Jerome Powell.</strong></p>
<div class="lb-trans"><p>复苏还受到强于预期的银行盈利和美联储主席 <strong>杰罗姆·鲍威尔</strong> 的鸽派言论的推动。</p>
</div><p>Powell warned of mounting risks to employment, another indication that the central bank is likely to continue easing borrowing costs, bolstering bets on a rate cut later this month.</p>
<div class="lb-trans"><p>鲍威尔警告就业面临日益增加的风险，这进一步表明中央银行可能会继续降低借贷成本，增强了本月晚些时候降息的预期。</p>
</div><h3>Big Banks Shine, But Cracks Emerge in Smaller Lenders</h3>
<div class="lb-trans"><h3>大型银行表现亮眼，但小型贷款机构出现裂痕</h3>
</div><p>Major U.S. banks including <strong>JPMorgan Chase &amp; Co.</strong> (NYSE:JPM), <strong>Goldman Sachs Group Inc.</strong> (NYSE:GS), <strong>Bank of America Corp.</strong>(NYSE:BAC), <strong>Citigroup Inc.</strong> (NYSE:C), <strong>Wells Fargo &amp; Co.</strong> (NYSE:WFC) and <strong>Morgan Stanley</strong> (NYSE:MS) all beat analyst estimates, highlighting the resilience of the country's financial giants.</p>
<div class="lb-trans"><p>包括 <strong>摩根大通</strong>（NYSE:JPM）、<strong>高盛</strong>（NYSE:GS）、<strong>美国银行</strong>（NYSE:BAC）、<strong>花旗集团</strong>（NYSE:C）、<strong>富国银行</strong>（NYSE:WFC）和 <strong>摩根士丹利</strong>（NYSE:MS）在内的主要美国银行均超出分析师预期，突显了该国金融巨头的韧性。</p>
</div><p>Yet cracks are beginning to show further down the ladder among smaller regional lenders.</p>
<div class="lb-trans"><p>然而，小型地区贷款机构的裂痕开始显现。</p>
</div><h3>Credit Concerns Resurface With Zions And Western Alliance</h3>
<div class="lb-trans"><h3>信贷担忧在 Zions 和 Western Alliance 中重新浮现</h3>
</div><p>Markets were reminded of that fragility on Thursday, when a new wave of volatility hit the sector as several regional banks flagged credit problems. <strong>Zions Bancorporation</strong> (NASDAQ:ZION) disclosed it would record a $50 million charge-off in the third quarter, tied to two troubled commercial and industrial loans held by its California Bank &amp; Trust unit.</p>
<div class="lb-trans"><p>周四，市场被提醒了这种脆弱性，当时一波新的波动袭击了该行业，几家地区银行警告信贷问题。<strong>Zions Bancorporation</strong>（NASDAQ:ZION）披露将在第三季度记录 5000 万美元的减记，涉及其加州银行信托部门持有的两笔问题商业和工业贷款。</p>
</div><p>Meanwhile, <strong>Western Alliance Bancorp</strong>(NYSE:WAL) revealed it had filed a lawsuit against a borrower alleging fraud. Shares of both banks plunged by double digits on Thursday, while the broader regional banking industry suffered its worst single-day loss since April.</p>
<div class="lb-trans"><p>与此同时，<strong>Western Alliance Bancorp</strong>（NYSE:WAL）透露已对一名借款人提起诉讼，指控其欺诈。周四，这两家银行的股价均暴跌了两位数，而更广泛的地区银行业遭遇自 4 月以来最严重的单日损失。</p>
</div><p>Adding to the unease, JPMorgan CEO <strong>Jamie Dimon</strong> warned of rising credit risk during the earnings call, citing the recent bankruptcies of Tricolor Holdings, a subprime auto lender, and First Brands, an auto parts manufacturer. &#34;When you see one cockroach, there's probably more,&#34; Dimon said.</p>
<div class="lb-trans"><p>在这种不安中，摩根大通首席执行官 <strong>杰米·戴蒙</strong> 在财报电话会议上警告信贷风险上升，提到最近的破产事件，包括次级汽车贷款机构 Tricolor Holdings 和汽车零部件制造商 First Brands。“当你看到一只蟑螂时，可能还有更多，” 戴蒙说。</p>
</div><h3>Gold Surges To All-Time Highs</h3>
<div class="lb-trans"><h3>黄金飙升至历史新高</h3>
</div><p>Gold continued its unstoppable rally, reaching new record highs of $4,350 per ounce — up more than 60% since the start of the year, marking its strongest performance since 1979.</p>
<div class="lb-trans"><p>黄金继续其不可阻挡的上涨，达到每盎司 4350 美元的新纪录——自年初以来上涨超过 60%，标志着自 1979 年以来的最佳表现。</p>
</div><p>Gold-mining stocks have soared by triple digits, and analysts suggest the rally may still be in its early stages.</p>
<div class="lb-trans"><p>黄金矿业股票飙升三位数，分析师表示这一涨势可能仍处于早期阶段。</p>
</div><h3>Detroit Auto Stocks Find Relief Ahead of Earnings</h3>
<div class="lb-trans"><h3>底特律汽车股在财报前找到喘息机会</h3>
</div><p>For Michigan-based stocks, the week ended on a brighter note. Shares of <strong>General Motors Co</strong>. (NYSE:GM), <strong>Ford Motor Co.</strong>(NYSE:F) and <strong>Stellantis N.V.</strong> (NYSE:STLA) rebounded from last week's losses, up around 6%, 4.3%, and 6.2%, respectively, as improved trade and interest-rate sentiment lifted the auto sector.</p>
<div class="lb-trans"><p>对于密歇根州的股票来说，本周以更光明的前景结束。<strong>通用汽车</strong>（NYSE:GM）、<strong>福特汽车</strong>（NYSE:F）和 <strong>斯特兰蒂斯</strong>（NYSE:STLA）的股价从上周的损失中反弹，分别上涨约 6%、4.3% 和 6.2%，因改善的贸易和利率情绪提振了汽车行业。</p>
</div><p>Next week, GM and Ford will report quarterly earnings on Oct. 21 and 23, respectively.</p>
<div class="lb-trans"><p>下周，通用汽车和福特将分别在 10 月 21 日和 23 日公布季度财报。</p>
</div><ul>
<li><strong>A Rare Holiday Spending Boom Is Coming—But Only For The Wealthy</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>即将到来的罕见假日消费热潮——但仅限于富人</strong></li>
</ul>
</div><p><em>Image created using artificial intelligence via Midjourney.</em></p>
<div class="lb-trans"><p><em>图像由人工智能通过 Midjourney 生成。</em></p>
</div>

Powell Hints At Rate Cut, Bank Credit Fears Emerge: This Week In Markets

- 特朗普宣布对中国商品征收 100% 关税后，市场迅速反弹。  
- 美联储主席鲍威尔的温和言论和强劲的银行业绩推动了复苏。  
- 黄金价格创下历史新高，汽车股在改善的贸易和利率情绪中回升。

鲍威尔暗示可能降息，银行信贷担忧浮现：本周市场动态